Bybit Launches Direct AED Trading Pairs to Link Banking and Digital Assets

Cryptocurrency exchange Bybit has introduced direct trading pairs denominated in the United Arab Emirates' fiat currency, the UAE dirham, or AED. The move is intended to streamline conversions between local bank accounts and cryptocurrency markets, reduce the need for users to convert funds into U.S. dollars or stablecoins first, and strengthen links between traditional finance and digital-asset services.

Bybit recently announced the launch of the direct AED trading pairs, allowing users in the United Arab Emirates to convert and trade directly between dirhams and cryptocurrencies. Existing reports, however, do not specify a formal launch date, supported tokens, the number of trading pairs, minimum transaction amounts or fee rates. The impact will depend on the actual scope of availability and arrangements for bank deposits and withdrawals.